Mixed signals from global market
Today there can be a positive start in the Indian markets. In yesterday’s trade, the market closed with a decline of 1.2 percent, breaking the three-day bullish sequence. In America too, the four-day rally of Wall Street was seen to be restrained. With the fall of 26.4 percent in the shares of Facebook’s owner Meta, $ 200 billion of investors appeared to be cleared in a jiffy. Yesterday, all three important US indices closed in the red mark. Talking about Asia, South Korea and Hong Kong are bullish, while Japan and Australia have seen selling.
Crude oil prices at 7 year high
Crude oil prices are at 7-year high. Brent has crossed $91. Supply concerns persist even after OPEC+’s decision to increase production.
ITC results better than expected
ITC’s profit in the third quarter has increased by about 13% to cross 4100 crores. Income has also jumped 31. Cigarette volumes have also been better than expected. The company has also announced a dividend of Rs 5.25.
Results of three companies of Nifty today
Three Nifty companies TATA STEEL, DIVIS LAB and SHREE CEMENT will present Q3 results today, TATA STEEL’s profit is likely to increase by 127% to 9 thousand 68 crores. At the same time, an increase of 54% is possible in REVNUE. Margins are also possible to improve.
VEDANT FASHIONS IPO will open today
The IPO of MANYAVAR’s parent company VEDANT FASHIONS will open today. Its price band is between Rs 824 to 866. The company will raise 3 thousand 150 crores from this IPO. The company has raised Rs 945 crore from ANCHOR INVESTOR.
FII sales
On February 3, 2022, FIIs have sold Rs 1597 crore in cash in the Indian markets. At the same time, domestic institutional investors have sold Rs 371 crore. Talking about F&O, on February 3, FII sold Index Futures worth Rs 1185 crore in this segment. At the same time, Rs 10485 crore was purchased in Index Options. Whereas FII sold Rs 1287 crore in Stock Futures.
strategy on nifty
Talking about the strategy on Nifty today, Virendra Kumar of CNBC-Awaaz said that its resistance zone is 17640-17705 and the larger resistance zone is 17749-17790. Its first base zone is 17483-17428 and the larger base zone is 17363-17310. Today is Friday. There could be a big swing. FIIs statistics are bad. The key option is the support of the average at 17500. The decline in large stocks is showing problems. Keep an eye on 17565-500-483 This is the last base. Sell below 17565-500-483, learn below it can see 17363 (100 DEMA). Strength may return above 17565 but put writing figures will have to be seen. There will be a strong pullback above 17703.
strategy on nifty bank
Virendra Kumar of CNBC-Awaaz is of the opinion that its first resistance zone is 39190-33320 and the bigger resistance zone is 39540-39610. Its first base zone is 38810-38630 and the larger base zone is 38490-38347. Looks good but only as long as 39000-38810 is on the screen.
Below 39000-38810 38490-347 is possible. When this happens, think about the short. Consider going long above 39200 and just above yesterday’s high.
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